Acron Q1 profits soar by 492% y-o-y as rouble strokes margins
Published: Tuesday, 02 June 2015
A weak Russian rouble and operational improvements have led to a bumper earnings quarter for Acron. The group is now using its increased free cash flow to pay down its dollar held debt, which ballooned in value in tandem with the rouble’s depreciation last year.
Russian fertiliser group Acron OAO has
recorded a 492% year-on-year (y-o-y) increase in Q1 2015 net
profits, to Russian rouble (R) 7.07bn ($132.9m*).
Revenues rose by 59% y-o-y to R 27.7bn ($520.6m) and
EBITDA** jumped by 291% to R 12.3bn ($231.2m) for the first
three months of the year. The...